CONSHOHOCKEN, Pa.–(BUSINESS WIRE)–Stream Innovations Inc., a U.S.-based Financial Technology company which provides point of sale financing for home improvement and solar installations, has closed a $400 million warehouse facility from Goldman Sachs Bank USA. This facility will be used to expand STREAM’s rapidly growing portfolio of home improvement loans.
STREAM’s primary merchant partner is Power Home Remodeling (“POWER”), the nation’s largest full-service exterior home remodeler, specializing in energy efficient exterior home improvements. STREAM currently has $670 million in loans under management and expects to originate over $800 million in high quality home improvement loans in 2024.
“STREAM is focused on financing sustainability-related home improvement projects. It combines best-in-class origination technology and processes with an empathetic servicing approach, providing confidence in the quality of loans we underwrite and service,” said PJ Singh, STREAM CEO. “A financing of this size from one of the world’s top financial firms is not only validation of our vision and work to date, but also a substantial advantage coming remarkably early in our company’s history that will fuel growth and innovation for years to come.”
Additionally, STREAM has evolved its name and location. Originally named “Stream Financial,” the company has updated it to “Stream Innovations, Inc.” to account for its differentiating technology stack and bigger-picture thinking. It also has relocated to a new office space in Conshohocken, PA, setting up the company for increased staffing by a multiple of five, and providing a centralization location with easy access to Philadelphia, the international airport, and surrounding locations.
About Stream Innovations Inc.
Stream Innovations Inc. is a leading financial technology company focused on providing point of sale financing solutions for the home improvement industry. Founded in 2020, the firm is headquartered in Conshohocken, PA and conducts business across the United States.
